The United States and the European Union have reached a preliminary trade deal to avoid a 30% U.S. tariff on imported goods from the EU that President Donald Trump threatened would go into effect on Aug.

U.S. President Donald Trump announced on Thursday new tariffs of up to 41% on goods imported from dozens of countries, again citing emergency powers he says he is using to shrink the country's trade deficits with many of its trade partners.

Asian shares are lower after choppy trading on Wall Street that saw more losses as investors assess President Donald Trump’s order imposing new tariffs on 68 countries and the European Union starting